61KM State Is. 49

RNS No 6689h
THE INDIA I.T. FUND LIMITED
14 April 1999


The board of directors of The India I.T. Fund Limited (the "Fund") announces
that the placing of C Shares in the Fund which was approved by Shareholders at
an extraordinary General Meeting held on 8th April 1999, has resulted in
application of the issue of 2,050,000 C Shares at a price of US$10 each
(excluding placing commissions).  The placing will therefore have raised
US$20.5m before taking into account costs and expenses.

Application has been made for the C Shares to be listed on the London Stock
Exchange and it is expected that listing will be granted and that dealing in the
C Shares will commence on 15th April 1999.


END

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